Cytosorbents Corp Receives a Buy from H.C. Wainwright

By Austin Angelo

H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on Cytosorbents Corp (NASDAQ: CTSO) today. The company’s shares opened today at $5.75.

According to TipRanks.com, Ramakanth is ranked 0 out of 5 stars with an average return of -21.6% and a 23.7% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as X T L Biopharmaceuticals Ltd (ADR), Spectrum Pharmaceuticals, and IntelGenx Technologies.

Currently, the analyst consensus on Cytosorbents Corp is Strong Buy and the average price target is $20, representing a 247.8% upside.

In a report issued on October 26, Aegis Capital also initiated coverage with a Buy rating on the stock with a $20 price target.

The company has a one year high of $8.10 and a one year low of $3.11. Currently, Cytosorbents Corp has an average volume of 91.22K.

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CTSO in relation to earlier this year. Most recently, in August 2016, Phillip Chan, the President & CEO of CTSO bought 5,000 shares for a total of $24,450.

CytoSorbents Corp. is a development stage critical care focused company using blood purification to treat life-threatening illnesses. Its technology is based upon biocompatible, porous polymer sorbent beads that are capable of extracting unwanted substances, such as drugs, dangerous chemicals, toxins, cytokines, free hemoglobin, and antibodies, from blood and other bodily fluids. The company was founded on April 25, 2002 and is headquartered in Monmouth Junction, NJ.